Market Overview

LGL Pre-Announces 2Q Earnings and Terminates Discussions with Investment Group

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Flash report: The Company's performance for the second quarter of
2018 is as follows:

  • Revenues for the second quarter of 2018 to be near $6 million vs.
    5.9 million reported for the second quarter of 2017.
  • Earnings for the second quarter of 2018 are anticipated to be
    between 9 and 10 cents per share vs. 1 cent per share for the second
    quarter of 2017.
  • Backlog is anticipated to be around $13 million for the second
    quarter of 2018 vs. reported $10.9 million for the second quarter of
    2017.

The Company's Chief Executive Officer, Michael J. Ferrantino, Sr.,
added, "Our strategy is working, our business has been trending up for
the last several quarters and although we are not yet ready to release
full quarterly financial results, we do expect to report results that
are very positive. We expect revenues for the second quarter of 2018 to
be near $6 million. New orders continue to be strong and are expected to
be approximately $7 million for the second quarter of 2018. Earnings are
also trending higher and are anticipated to be between 9 and 10 cents
per share for the second quarter of 2018. In addition, our order backlog
once again increased and is anticipated to be around $13 million for the
second quarter of 2018."

Mr. Ferrantino continued, "We are excited to present our quarterly
results and provide you with more information about how our business is
trending, and to that end, we will be conducting an earnings call at
4:00 p.m. Eastern time on August 9, 2018. Thank you for your support and
we look forward to talking to you on August 9th.

Termination of Discussions to Acquire Operating Assets

The Company today announced the termination of discussions with respect
to a proposal from an investment group to acquire the assets of the
Company's two principal operating subsidiaries, M-tron Industries, Inc.
("MtronPTI") and Precise Time and Frequency, LLC ("PTF"). The Company's
board of directors, after carefully reviewing and evaluating the
proposal and consulting with its legal and financial advisors and
shareholders, has concluded that it is in the best interests of the
Company and its shareholders for the Company to pursue other strategic
alternatives.

About The LGL Group, Inc.

The LGL Group, Inc. (NYSE:LGL) (the "Company"), a globally
diversified holding company with a history of operations dating back to
1914, designs, manufactures and markets highly-engineered electronic
components used to control the frequency or timing of signals in
electronic circuits, and designs high performance frequency and time
reference standards that form the basis for timing and synchronization
in various applications.

Headquartered in Orlando, Florida, the Company has additional design and
manufacturing facilities in Yankton, South Dakota, Wakefield,
Massachusetts and Noida, India, with local sales offices in Hong Kong,
Sacramento, California and Austin, Texas.

For more information on the Company and its products and services,
contact James Tivy at The LGL Group, Inc., 2525 Shader Rd., Orlando,
Florida 32804, (407) 298-2000, or visit www.lglgroup.com
and www.mtronpti.com.

Caution Concerning Forward Looking Statements

This press release may contain forward-looking statements made in
reliance upon the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Forward-looking statements include all
statements that do not relate solely to historical or current facts, and
can be identified by the use of words such as "may," "will," "expect,"
"project," "estimate," "anticipate," "plan," "believe," "potential,"
"should," "continue" or the negative versions of those words or other
comparable words. These forward-looking statements are not guarantees of
future actions or performance. These forward-looking statements are
based on information currently available to us and our current plans or
expectations, and are subject to a number of uncertainties and risks
that could significantly affect current plans, anticipated actions and
our future financial condition and results. Certain of these risks and
uncertainties are described in greater detail in our filings with the
Securities and Exchange Commission. We are under no obligation to (and
expressly disclaim any such obligation to) update or alter our
forward-looking statements, whether as a result of new information,
future events or otherwise.

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